Topics in Middle Eastern and North African Economies

Document Type

Article

Publication Date

5-1-2023

Abstract

Using System General Method of Moments approach estimation methodology on annual data 73 developed and developing countries including 12 Middle East and North African (MENA) and 45 Sub-Saharan African (SSA) countries, the study estimates the impact of green finance on the eradication of extreme poverty by 2030, the first goal of the Sustainable Development Goals (SDGs). Using green bond issuance as a measure of green finance, the results indicate that the penetration of green finance measure has a positive, statistically significant impact on reducing extreme poverty for the full sample, but not in the MENA and SSA countries. Policy considerations can be directed towards developing and promoting the infrastructure needed for the widespread delivery and usage of green inclusive financial tools, especially for the MENA and SSA regions lagging the extreme poverty target.

Journal Title

Topics in Middle Eastern and North African Economies

ISSN

2334-282X

Publisher

Middle East Economic Association and Loyola University Chicago

Volume

25

Issue

1

Comments

Presentation of the articles in the Topics in Middle Eastern and North African Economies was made possible by a limited license granted to Loyola University Chicago and Middle East Economics Association from the authors who have retained all copyrights in the articles.

Creative Commons License

Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 License.

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